The annual Jackson Hole Economic Policy Symposium, hosted by the Federal Reserve Bank of Kansas City against the backdrop of Wyoming’s Grand Tetonsâreferred to colloquially as the ‘three breasts’âhas long been a stage for monetary policy debate. But this year, a sharply worded critique from American Thinker columnist Noel S. Williams has turned attention to the gender and political dynamics within the Federal Open Market Committee (FOMC).
Williams’s piece, published August 28, 2026, takes aim at the Fed’s communication style and, more pointedly, at the committee’s female members, whom he characterizes as ‘hawkish’ and opposed to President Trump’s push for lower interest rates. The column argues that these officials are using their positions to thwart the president’s economic agenda, making the American Dreamâespecially homeownershipâincreasingly unattainable.
Hawks on the FOMC
According to Williams, of the twelve current FOMC members, five are women. He asserts that at least four of them are ‘hawkish,’ meaning they favor raising interest rates. The column names these members and suggests they are looking for ways to oppose Trump on rates, while the fifth is ‘open to it.’
The timing of the Fed’s rate decisions has become a point of contention. Williams highlights that the Fed lowered rates by a substantial 0.50 percentage points just before the 2024 electionâa move widely seen as politically significantâand questions whether the current hawkish stance is a coincidence.
‘Fedspeak’ and Waffling
Williams’s critique extends beyond policy to the Fed’s communication style, which he derides as ‘abstruse and monotonous Fedspeak.’ He argues that the committee’s habit of saying ‘on the one hand, this; on the other hand, that’ has become comical and provides cover for obstructing the president’s ‘Golden Age of America.’
The column also takes a swipe at the field of economics itself, calling it a ‘soft science’ with ‘dubious data’ and ‘cherry-picked statistics.’ Williams suggests that the female members’ backgrounds in economics allow them to justify policies that he believes are detrimental to the nation’s youth, driving them toward socialism.
A Call for Free Markets
In his conclusion, Williams expresses a desire for the Fed officials to ‘burrow into their putrid holes and shut their pieholes,’ urging that the ‘mostly free markets’ be allowed to operate without what he sees as undue interference. He frames his commentary as an exercise in free speech, noting that ‘more than ever, the ability to speak our minds is crucial to the republic we cherish.’
The article reflects a broader conservative frustration with the Federal Reserve’s independence and its perceived political bias. Whether the Fed’s actions are truly motivated by partisanship or by economic data remains a subject of ongoing debate, but Williams’s piece underscores the heightened tensions between the Trump administration and the central bank.
Source: www.americanthinker.com â https://www.americanthinker.com/blog/2026/08/notes-on-a-soporific-event-at-the-three-breasts/